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Bank of Canada Holds at 2.25% — What the Fine Print Means for You

  July 15, 2026  |  Canadian Money Brief The Bank of Canada held its policy rate at 2.25% today, exactly as every economist surveyed expected. The number didn't move — but the story underneath it did. Between renewed oil-market chaos, a stubbornly hot inflation reading, and an economy that's finally showing signs of life, this "boring" hold decision was anything but simple. If you've been following our preview piece from earlier this week , this is the follow-up: what actually happened, and what it means for your mortgage, your savings, and your grocery bill. The Decision, in Plain English This marks the sixth consecutive hold since the Bank's last cut back in October 2025. The overnight rate stays at 2.25%, the Bank Rate at 2.5%, and the deposit rate at 2.20%. Bank prime — the number that actually determines your variable mortgage or line of credit rate — stays put at 4.45%. Governor Tiff Macklem has described this level as sitting near the bottom of the Bank...
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Eurovision’s Harmony Disrupted by Political Discord

 

In a turn of events that has brought political tensions to the forefront of a traditionally unifying event, the Eurovision Song Contest has become the stage for significant protests. The inclusion of Israel’s contestant, Eden Golan, in the Eurovision finals has sparked widespread demonstrations in Malmo, Sweden, where the contest is being held. Despite the uproar, Golan advanced to the grand final, a victory overshadowed by the voices of thousands of pro-Palestinian protesters who took to the streets to express their dissent.

The protests have drawn attention from political figures as well. UK Prime Minister Rishi Sunak described the protests as ‘outrageous’, aligning with Israeli leader Benjamin Netanyahu’s condemnation of the events in Sweden. The demonstrations, which included prominent figures like Greta Thunberg, have been calling for a ceasefire and an end to the Israeli government’s military offensive in Gaza.

The Eurovision Song Contest, known for its eclectic mix of music and celebration of diversity, is facing a crisis as deep political divisions overshadow the event. The contest’s spirit of unity is being tested as protesters rebrand Eurovision as the “Genocide Song Contest,” demanding that Israel be held accountable for its actions in Gaza.

As the final approaches, the world watches to see if Eurovision can navigate these turbulent waters and return to its roots as a beacon of harmony and cultural exchange, or if it will remain mired in the complexities of global politics.

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